17070 Red Oak Dr Houston, TX 77090

Property Details for 17070 Red Oak Dr

Lot size

1.82 lot acres

Property type

Commercial real estate

APN

1159250000005

APU

1159250000005

Description

This exceptional investment opportunity presents the Texas Medical Arts Tower, a 90,508 square foot medical office building situated in Houston, Texas. Located at 17070 Red Oak Dr, 77090, this single building property sits on 3.83 acres and boasts 30 tenants with a current occupancy rate of 78.6%. Originally constructed in 1983 and renovated in 2009, the building offers ample parking, including both covered and uncovered spaces. The property benefits from its strategic location in the Medical District, approximately 20 miles from downtown Houston, and enjoys excellent visibility from Cypress Creek Pkwy, a high-traffic thoroughfare with over 68,000 vehicles per day. Its proximity to Interstate 45 and Loops 8 and 99 ensures easy accessibility. The asking price is $7,000,000, translating to $77.34 per square foot. Recent capital expenditures totaling approximately $1 million have been made, deferring the need for significant near-term investments. The property is ideally positioned within a densely populated area, serving a 5-mile radius encompassing 315,146 residents. Furthermore, additional covered land is available for potential future development. This net lease investment presents a compelling opportunity for value appreciation and strong cash flow. The property is directly adjacent to HCA Healthcare Northwest Hospital.

Location Insight

City

Houston

County

Harris

State

Texas

Longitude

-95.4446

Latitude

30.0199

CBSA code

26420

CBSA name

HOUSTON-SUGAR LAND-BAYTOWN, TX METROPOLITAN STATISTICAL AREA

Property Tax & Assessments